For Oil India stock, the consolidation zone around 480–490 is a key support, with the setup favouring further upside toward the 540–560 target zone in the near term, Shah said.
Budget 2026: With crude prices now averaging below $65 a barrel for a while, a potential hike in excise duty on petrol and diesel in Budget 2026 could pose a risk to India's OMCs, MOFSL said.
Oil India highlighted that crude oil prices have surged from USD 60 on January 7, 2026, to USD 68 on January 28, 2026. This represents an increase of more than 13 per cent during last 3 weeks.
Elara reiterated its positive view with a 'BUY' call, citing a supportive crude oil environment, declining capex intensity, and progress on key projects.
An analyst from Mirae Asset Sharekhan said that Waaree Energies has endured a sharp correction, reflecting sector rotation out of renewables amid profit-taking and valuation concerns.
he counter has shown momentum over the longer term, having gained nearly 26 per cent in the last one-year period. Also, HPCL is scheduled to report its results for the quarter ended December 31 on Wednesday.
SMIFS said that GMR Airports continues to move higher along a rising trendline, indicating continuation of the short-term uptrend after a healthy consolidation.
Choice Broking said that Hindustan Petroleum continues to trade in a strong long-term uptrend, having resumed its bullish structure after a corrective phase earlier.
HPCL shares: MOFSL viewed HPCL’s valuation as reasonable and expected the stock to perform steadily, supported by several factors. It suggested a target price of Rs 590 on the stock.
Canara Bank confirmed a breakout of multiple resistance levels near Rs 130 on the weekly chart and registered an all-time high at Rs 138, signalling the continuation of the medium-term uptrend.
MOFSL tagged HPCL and MGL as momentum plays and Petronet LNG as a value play. HPCL is preferred among OMCs for its marketing leverage and catalysts such as the planned demerger
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